Now really what else do you expect from the real estate industry here in The Valley of The Sun? There is some increasing "vitality" if you want to call it that, but more than eight years after The Great Recession there's of lot more factors than those mentioned in what's here.
Different cities in the Valley all have very different local dynamics, oftentimes competing with each other and different geographic positions in supply chain logistics, workforce talent, and market demand for space and land acquisition. Here's some general forecasts using broad strokes:
Different cities in the Valley all have very different local dynamics, oftentimes competing with each other and different geographic positions in supply chain logistics, workforce talent, and market demand for space and land acquisition. Here's some general forecasts using broad strokes:
Phoenix land and housing forecast: Vitality at last
"The 8th Annual Phoenix Land and Housing Forecast, presented by Land Advisors Organization, provided a provocative and insightful breakdown of the trends, activity and outlooks within the local real estate market."
Greg Vogel, CEO at Land Advisors Organization, described the theme of the event as “vitality at last,” as a reference to Phoenix’s long, slow and steady recovery since the last downturn and positive market conditions being faced today.
National overview and where Phoenix ranks
> First up was John Burns, CEO of John Burns Real Estate Consulting who analyzed the national market and how Metro Phoenix compares. He says the greatest factors always impacting the housing market are: job loss, construction levels and affordability
Burns mentioned two things to keep an eye on in 2018 and beyond
1. The merger of two of Arizona’s Top 5 homebuilders
2. The rise of “build for rent concepts" when new homes are built and put on the market as rentals instead of waiting for a sale in order for the real estate investor to start recouping investments. These can already be seen at Verrado in Buckeye and Eastmark in Mesa.
> City of Phoenix Economic Development Director Christine Mackay led an update on economic development in the Valley that she describes as “changed into a highly competitive and sought-after market for companies to relocate and expand.”
Most notably she highlighted the growth of technology companies in the Valley that are starting to move back to the Central City
> Greg Vogel started his Metro Phoenix market forecast by noting clients, banks, builders and homebuyers are all doing better, but he remains concerned about a few factors.
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